What is a cryptocurrency blockchain "Reward Pool"?
- There are probably many definitions of these two words. But in social media, specifically, tokenized social media, it means something special and probably different from other definitions.
- This of course leads to another unfamiliar term which needs to be defined and explained: Tokenized Social Media
Tokenized Social Media
- Social Media Users provide their time and attention to the platforms they use.
- These platforms make money, usually through Advertisements or selling information about their users to Advertisers. Some users are paid a portion of this money the platform earns on advertisements and this process of earning money is called Monetization..
- Now this also called monetized social media, and while many people post on social media like YouTube or X, formerly Twitter, only a small minority achieve the number of views and subscribers to achieve monetization.
- In contradistinction to this method of monetization, users of tokenized social media can earn money, in the form of cryptocurrency tokens, for any upvotes on their posts, regardless of how many votes or views. Any votes over a certain thresh-hold of about 2 cents results in monetzation of the post. In the case of the Hive Social Media Platform and the Inleo platform, those votes are rewarded with tokens called Hive and Leo, just like tokens from the Bitcoin blockchain are called Bitcoin. So now the question is: where do these tokens come from? The answer is the Reward Pool.
Where do the tokens come from in tokenized social media?
- All or nearly all cryptocurrencies blocjchains mint cryptocurrency tokens daily, which are paid to users who help maintain the accuracy of the blockchain ledger system. But in some blockchains the reward pool also sends a portion of the newly minted tokens to a reward pool, where they are used to reward users for another activity, called engagement.
Engagement
- Engagement is an interaction between Hive community members either through upvotes, or content creation.
Upvotes
- Upvotes are like LIKES on other platforms, a positive reaction to the content. But because of the reward pool, it is possible to reward users who create content withsomething of monetary value; cryptocurrency tokens.
- Upvotes represent what is called HivePower or LeoPower, which is staked tokens, which allow the staker to send some of the reward pool to the person whose content they upvote. The more Hive or Leo you have staked, the larger portion of the reward pool is sent with each upvote.
Content Creation
- This is a broadly defined category of interaction or ENGAGEMENT, which includes articles, threads, pictures, memes or comments on the content of others.
- The important thing to focus on is that each of these interactions can be rewarded with tokens from the reward pool according to staked or powered up tokens called HivePower or LeoPower.
How to recieve a portion of the daily reward pool.
- Most rewards are distributed to users whose activities attract upvotes.
- The last thing to remember is that the people or investors, who buy and stake cryptocurrency tokens also get half of the rewards their votes.
- So that not only do the receivers of votes get paid, but also the givers too.
The reward pool replenishes daily
- The reward pool replenishes daily, so rewards can be given out daily.
- But each person has a fixed number of votes each day, and they expire if you don’t use them.
- I think this is all you need to know about the reward pool to understand why you can earn cryptocurrency tokens by engaging with others here by creating content; posts, threads, pictures, movies, memes, and writing comments on other peoples posts.
- While to some it seems to good to be true, that you can earn without investing anything, the truth is the people who invest in the tokens so their upvote is worth money have to upvote content to earn, so they upvote any good content they see, regrdless of whther the content creator has bought and staked Hive or Leo tokens.
How this ties into my community called C.U.T.E.
- The C.U.T.E. Community want teach newcomers and veterans to maximize their earnings of its members by creating a place where new or unknown people can publish content to a receptive audience or just engage with content and earn tokens, which can become money.
- The Cute Community encourages targeted actions which generate value for the platform, promotes friendships and relationship building between members of the community and generates earnings.
- This is the End of this post, but hopefully the beginning of a better future for you.
@shortsegments
#Thankyou #for #reading #my #post
This article was published on the social website called Inleo.
Inleo
- Inleo looks like many other social media platforms on the outside, so it is easy to use. But it is different from other social media platforms on the inside because you are an Owner.
Being an Owner means:
- 1 , You own your account, it can't be closed. [No Deplatforming.]
- 2, You own your content, so no one can take it down. [It's Permanent]
- 3, You own your following, so no one can take them away.
This means the following:
- Your account can't be taken down and closed.
- Your content can't be confiscated and/or erased.
- Your following can't be lost. They are your followers until they leave you.
#wow!
Join for free, have fun and learn to earn.
- 1, Open an account for free and choose your name.
- 2, JOIN4FREE.
Cute Community
In the Cute Community you can learn to earn by being social
- 1, It is easy: make Comments, write Replies, post Pictures...be social.
- 2, Click Here to join my Free Community called CUTE.
- 3, Look me up once you join and I will welcome you, answer your questions and direct you to helpful guides.
Extra a definition of the Reward Pool from the Leoglossary a dictionary of Inleo and Hive.
Per Leoglossary a Reward Pool is
This is one of the most important aspects to Hive.
There is a daily reward pool that is funded out of the inflation of the coin. This is meant to incentivize different behavior which benefits the ecosystem. Out of this daily inflation we see Witnesses paid for their block production, users rewarded for creating and curating content, and HP holders having their accounts adjusted to offset the expansion of the coins.
The reward pool is Hive's coin distribution mechanism. Each day, individuals receive rewards based upon the value tied to their activity on-chain. This is often measured by the total stake associated with the voting that takes place. After the 7 day voting window closes, one can claim his or her rewards.
Payments are based upon the option selected by the user. For blog posts, one can opt for either 50/50 (HP/HBD) or the entire payout in HP.
This process utilizes the Proof-of-Brain PoB) mechanism. It is a system of voting based upon the total voting power, both direct and delegated, that each vote casts. Over the course of the voting window, rewards are adjusted based upon changes in voting power of each cast. Upon the close of that period, the total is locked in and payouts occur.
While there is a reward pool at the base layer, Hive also offers a similar feature with many layer 2 applications. By creating tokens on sidechains linked to Hive, and incorporating the PoB mechanism, many communities also reward content with their own token.
Most will follow the same voting window yet have different from Hive in terms of the staking/unstaking times. Hive utilizes a 13 week power down period to provide stability to the system and to deter outside attacks. Many projects opted for a shorter unstaking period on their tokens.
Source Leoglossary
Posted Using INLEO
For so many years I have been wondering on which mechanism is tokens created but now I understand much more better right now
I am glad the article helped you.
The reward pool is a core feature which creates the "abundance economy", which differs from the "Scarcity Economy" outside Hive. In the scarcity economy we take what others would have, so we can have. But in the abundance economy we earn for ourselves, while simaltaneously earning for others. Our gain doesn't diminish theirs.
#hive #posh
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Thanks for sharing on twitter, now X
Reward Pool
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